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UPC Crippled as Orient Bank Maintains Seal on Withdrawals

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Primrose Kobusingye the Banks Corporate Affairs Officer says that the bank placed a no debit mark on the accounts based on the contradictions. She dismisses earlier statements by Otunnu that that the accounts had been frozen.
31 Jul 2015 10:14
Olara Otunnu during an interview with URN

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Uganda People\'s Congress – UPC party accounts in Orient Bank are only open for deposits but not withdrawals. The action follows contradicting correspondences to the bank from the two warring factions within the party both instructing the bank managers not to honor transactions from either side.

On June 8th 2015, Patrick Mwondha, writing as the chairperson of the transitional committee instructed Orient Bank to halt transactions pending a change of leadership in UPC. Mwonda belongs to a UPC faction led by Lira Municipality MP Jimmy Akena.

Subsequently, Peter Walubiri Mukidi, the National Treasurer wrote back instructing the bank to disregard the Mwonda request saying that elections for the party president had not yet been organized yet. Walubiri is the signatory to the account alongside David Baliraine and Jacinto Ogwal, the party Secretary General. They all belong to the camp led by UPC President Olara Otunnu.

Primrose Kobusingye the Bank\'s Corporate Affairs Officer says that the bank placed a no debit mark on the accounts based on the contradictions. She dismisses earlier statements by Otunnu that that the accounts had been frozen.

Kobusingye adds that the bank can only freeze an account after an order from court or by the central bank upon detecting suspicious financial activities.

However, Olara Otunnu says that the development is a setback to all party activities ahead of the next general election.

//Cue in: ‘It\'s very …

Cue out:…delegates conference.// Otunnu

Meanwhile, Jimmy Akena says the intention of his team is to ensure that the funds in the bank accounts are not abused

//Cue in: ‘Our intention was…

Cue out:…nine days.\'// Akena

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